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In total last week saw a massive 25,000 people placed on the unemployment list as companies around the UK continue to cut down on their operating costs. Unemployment is fast approaching the 2...
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Friday 5th September 2008
The topic of equity release has always been something of a controversial subject with many people falling foul of some of the more dubious operators in the market. However, there have been changes in regulations over recent years and the situation is no where near as bad as it has been in the past. So is it time for the older generation to look at releasing some of the capital from the house they own? Is it the right thing to do?
As with any investment decision it is vital that you take advice and work on a plan which suits your situation, not the situation you think you might be in. David Blunkett has been very vocal this week in his belief that pensioners are neglecting to use the assets at their disposal to ease the financial pressure on them. But why should they?
Many of the older generation have been through the war, they have paid their taxes so why in their hour of need should they be forced to sell down their assets?
The truth is that the benefits system is a complete mess in the UK and in many ways the older generation ‘do not matter’ until their votes are required. In recent years we have seen ‘budget bribes’ in the form of winter energy bill vouchers to ease the pressure and then they are cast back into the wilderness. |
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